Is The Dollar Ready For Another Leg Down?
Above is a daily chart of the U.S. Dollar and in the lower pane is the stochastic oscillator.
Notice how every time the stochastics moved above 80 and then turned back down below 80, the Dollar would have a significant sell off. This happened many times over the past 2 1/2 years.
Right now the oscillator is above 80 which sets the dollar up for a potential short so keep an eye on the dollar this coming week.
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4 comments:
Hi Kevin,
I have noticed you used the STO instead of the RSI. Any particular reasons. Was it because you found the STO more accurate in that case? Or do you feel that the STO is more accurate than the RSI?
Thank you.
Remi
I could have used RSI, but I prefer the stochastics because they are smoother.
Kevin,
Any predictions on the price of oil? I bought TSO recently and have been getting killed. Any chance that the price is coming down any time soon?
Thanks,
JP
Is it a good time for gold investment?
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